guitar center money woes...

Discussion in 'The Backstage' started by scat7s, Jan 6, 2013.

  1. scat7s

    scat7s New Member VIP Member

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  2. Feeling Supersonic

    Feeling Supersonic Well-Known Member

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    Good riddance! all I hear is moaning about that retched place.
     
    Last edited: Jan 6, 2013
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  3. NewReligion

    NewReligion Well-Known Member VIP Member

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    Wonder what they would be worth if they liquidated ALL assets and returned stock. :hmm:
     
  4. scat7s

    scat7s New Member VIP Member

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    you'll probably see some crazy deals coming in the next couple months as they try to move inventory...

    bright side is, maybe it will herald the return of the mom and pop shops? hahaha,,,who am i kidding...
     
  5. longfxukxnhair

    longfxukxnhair Senior Member

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    I consider myself pretty well informed in big biz and finance but I had no idea about this. Was this a well kept secret?
     
  6. scat7s

    scat7s New Member VIP Member

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    i dont know, but im reminded of the strategy GC has employed to drive the competition out of business.

    some of you have heard me complain b4 about the lack of small shops in the last decade or so in my area. when GC came around, we had one other regional chain, daddy's junkie music. it was new england area, several stores in mass, nh, and maine. probably other states too. anyway, when GC came to town, they forced the mom and pop shops to close up, one by one. they couldnt compete with the prices, and many of the vendors required minimum orders that were just too much for an independent shop, thanks to GC's buying power.

    eventually even daddy's couldnt compete. they closed up the last store last summer i think.

    GC employed a strategy of undercutting themselves on their own pricing to drive competitors out. it has worked, but now, it seems their own tactics have backfired on them (maybe).

    the good news, in my neighborhood, is that since literally ALL of the decent small shops have closed up, and daddy's was on the long slide for years, it created a vacuum. there is a place that opened up a couple yrs ago, its a pretty big space, and they have TONs of used gear, as well as getting into some new stuff.

    i have watched this place go from an interesting little shop to a treasure trove of goodies. there is barely space to walk in this place anymore as they have such a good reputation among the locals who dont want to deal with GC. seriously, you can spend hours checking all the nooks and crannies looking for cool stuff at this place. price are fair, and the people are great. and now this guy has a virtual monopoly on the used and alternative market for local musicians.

    bring back the small shops!
     
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  7. Bubba po

    Bubba po Well-Known Member

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    Is that another term for having a wank? :D
     
  8. blues_n_cues

    blues_n_cues Well-Known Member VIP Member

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    I don't know but on MF's website this morning all the "stupid deals" were $50-$200 more than they were before x-mas.:rolleyes:
     
  9. scat7s

    scat7s New Member VIP Member

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    wait till they get closer to that april deadline.

    probably late feb/march
     
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  10. crossroadsnyc

    crossroadsnyc Senior Moderator Staff Member

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    GC's biggest problem is with sales staff turnover. Yes, bringing new customers through the doors is important, but building the relationships that retain customers is far more important. When you can't retain business, it's game over.
     
  11. Feeling Supersonic

    Feeling Supersonic Well-Known Member

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    or dispensing an annoying poo!
     
  12. DPTONE5

    DPTONE5 Well-Known Member

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    Interesting read. I always liked the folks at the Guitar Center. Very helpful team, but many local stores have gone under.

    There is a great non-chain store in Pittsburgh that rivals the largest Guitar Centers in quantity and quality of gear. Pianos N' Stuff Music is a super store.
     
  13. TwinACStacks

    TwinACStacks New Member

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    :) Shame it isn't WALmart. Their business practices SUCK. Ask their Vendors.

    :cool::cool: TWIN
     
  14. S.A.T.O.

    S.A.T.O. Well-Known Member

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    Hard to imagine a chain that big going out of business but in this economy anything is possible.
     
  15. longfxukxnhair

    longfxukxnhair Senior Member

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    I goto all the GC's in my state but I buy from one and its the same sales person that I have dealt with for year. Good guy!
     
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  16. Dogs of Doom

    Dogs of Doom Moderator Staff Member

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    [​IMG]
     
  17. HOT TUBES 70

    HOT TUBES 70 Well-Known Member

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    Here in Canada our big chain is Long & McQuade , and they have been on the rise in terms of sales and number of Stores nation wide .... more locally my L&M store has had some of the same sales staff for 15+ years , and even some of the newer staff are 7-8 + years etc etc ... So as Longfxukxnhair has pointed out , i agree that that personal touch with a familiar face helps when shopping in these types of stores ...

    It's possible to become a large profitable business these days , but you need to keep up with the times as i suspect that's partially to blame for some of GC dismal sales & bad business problems etc etc. You have many players in the Music retail business these days , just think about how many items are sold on line every day !! .... Boutique amps , boutique pedals , guitars , ..... fuck the list is endless !! these types of competition was not around 15 years ago ... keep in mind ! hell you can even buy little Johnny his starter guitar package on line from Ebay at 4 am if you need !!
     
  18. thrawn86

    thrawn86 Well-Known Member

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    Y'know, the guy I used to deal with in the Medford Oregon GC was a great guy. He's the reason I kept going back there over and over. However, if you can't make it on what they pay, or you are working there as you go to school and it's not the be-all, end-all, I understand why there is such turnover.
     
  19. scat7s

    scat7s New Member VIP Member

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    well, as the article points out, benefits, compensation, and hours have all been slashed for employees. if they keep everyone under 35 hours, they dont have to provide benefits, and b/c of a desperate work force, wages can be kept low... thats a breeding ground for high turnover.

    bain capital FTW!
     
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  20. thrawn86

    thrawn86 Well-Known Member

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    Everything is going to end up like this. And then the end will come.
     
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